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Jaguar C-X75 Officially Cancelled Due to Global Economic Crisis

The development of the Jaguar C-X75 was set to reach its first major milestone as the British company was preparing to put the car’s complex hybrid drivetrain into the car for the first time in order to create a working prototype which could then be tested around the globe before the production green light was given.

However, just hours after this news broke, Jaguar confirmed that the C-X75 had been officially axed by the company due to the Global Economic Crisis.

Global brand director, Adrian Hallmark said that “We feel we could make the car work, but looking at the global austerity measures in place now, it seems the wrong time to launch an £800,000 to £1 million supercar. This is backed up by other products from us that people are screaming out for.”

The original Jaguar C-X75 Concept revealed at the 2010 Paris Motor Show featured a twin gas-turbine engine and even though this powertrain was originally scrapped for production, the 1.6 liter, twin-charged engine set to replace it could have produced up to 500hp when combined with two electric motors, revving to 10,000rpm.

Thanks to the lightweight, bonded carbon fiber chassis co-developed with Williams Formula One, Jaguar hoped the C-X75 could reach 100km/h in less than three seconds hit a top speed of over 200mph and therefore become a true competitor to the Porsche 918 Spyder, Ferrari F70 and McLaren P1.

Despite this shock announcement, Hallmark confirmed that five prototypes will continue to be developed until May next year. Three of these will go up for auction, one will be stored in a future Jaguar museum and the final unit will be used by the company for rolling demonstrations.